PIMCO’s Gross: Markets Are Exhibiting “A Mini-Relapse of a Flight to Liquidity”

Bill Gross, the co-chief investment officer of Pimco and manager of the firm’s Total Return Fund, told Reuters that “fiscal tightening momentum” is increasing in almost every corner of the world. That comes as financial markets are exhibiting “a mini-relapse of a flight to liquidity as hedge funds and other leveraged positions are liquidated to preserve capital,” Gross said – Reuters